abrdn plc Acquires Shares of 484,666 Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

abrdn plc acquired a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 484,666 shares of the biopharmaceutical company's stock, valued at approximately $10,115,000. abrdn plc owned about 0.41% of Catalyst Pharmaceuticals at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC boosted its stake in Catalyst Pharmaceuticals by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company's stock worth $35,000 after purchasing an additional 681 shares during the period. nVerses Capital LLC acquired a new position in Catalyst Pharmaceuticals during the third quarter worth about $50,000. Larson Financial Group LLC raised its position in Catalyst Pharmaceuticals by 27,218.2% during the third quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company's stock worth $60,000 after acquiring an additional 2,994 shares during the last quarter. KBC Group NV raised its position in Catalyst Pharmaceuticals by 48.8% during the fourth quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company's stock worth $98,000 after acquiring an additional 1,542 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter worth about $134,000. Institutional investors and hedge funds own 79.22% of the company's stock.

Insiders Place Their Bets

In other news, insider Gary Ingenito sold 12,000 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $22.72, for a total transaction of $272,640.00. Following the completion of the transaction, the insider now owns 51,391 shares in the company, valued at approximately $1,167,603.52. This represents a 18.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steve Miller sold 50,000 shares of the company's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $21.93, for a total transaction of $1,096,500.00. Following the transaction, the insider now owns 686,996 shares of the company's stock, valued at $15,065,822.28. This represents a 6.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,500 shares of company stock valued at $1,754,140. Company insiders own 11.00% of the company's stock.

Catalyst Pharmaceuticals Price Performance

CPRX traded down $0.18 during trading on Tuesday, hitting $22.58. The company had a trading volume of 719,953 shares, compared to its average volume of 1,332,431. The company has a market cap of $2.69 billion, a PE ratio of 19.14, a P/E/G ratio of 3.46 and a beta of 0.80. The business has a 50-day moving average of $22.11 and a 200-day moving average of $21.03. Catalyst Pharmaceuticals, Inc. has a 1-year low of $13.13 and a 1-year high of $24.64.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CPRX shares. Robert W. Baird started coverage on shares of Catalyst Pharmaceuticals in a report on Tuesday, February 4th. They set an "outperform" rating and a $28.00 price target for the company. Bank of America restated a "buy" rating and issued a $30.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Stephens initiated coverage on shares of Catalyst Pharmaceuticals in a report on Monday, November 18th. They issued an "overweight" rating and a $35.00 target price for the company. StockNews.com downgraded shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Saturday, January 11th. Finally, HC Wainwright boosted their target price on shares of Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the company a "buy" rating in a report on Friday, January 10th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $32.25.

About Catalyst Pharmaceuticals

Catalyst Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases in the United States. It offers Firdapse, an amifampridine phosphate tablets for the treatment of patients with lambert-eaton myasthenic syndrome (LEMS); and Ruzurgi for the treatment of pediatric LEMS patients.